Stay current with the latest software updates from Fin CW. From regulatory changes and IRS guidance to user-driven refinements, this page keeps you informed about new features, rule implementations, and behind-the-scenes upgrades designed to enhance your retirement planning experience.
July 10th, 2025 – Income Tax Form Update to the Standard Deduction & Age 65 Deduction
We’ve updated our software to reflect the latest tax changes from H.R.1 – One Big Beautiful Bill Act, so you can run illustrations with confidence. Click to read more.
2025 Standard Deduction
The 2025 Standard Deduction has been increased to the following:
- Single Filers: $15,750 for a single filer
- Head of Household: $23,625
- Married Filing Jointly: $31,500
2026 Standard Deduction
The standard deduction amounts have increased and will now be adjusted for inflation annually:
- Single Filers: $16,000
- Head of Household: $24,000
- Married Filing Jointly: $32,000
2025 Age 65+ Deduction
If you or your spouse are 65 or older, you may qualify for an additional deduction:
- Single or Head of Household: $2,000
- Married Couple (One 65+): $1,600
- Married Couple (Both 65+): $3,200
These amounts are adjusted annually, typically in $50 increments.
These updates are now live in all Break Analytics modules that include the Income Tax Form.